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Lennar Corporation (LEN)
July 6, 2020
Despite dismal coronavirus stats, we’ve seen homebuilder stocks getting a nice boost lately.
That’s because Americans have apparently started buying new homes in droves.
According to data from the National Association of Realtors’ index, pending home sales have skyrocketed 44% in May over April.
That’s the biggest increase since the index was first launched in 2001.
In fact, every single region in the US reported a monthly increase in pending sales…
And according to Lawrence Yun, chief economist for the National Association of Realtors, that’s good news for the whole economy.
“This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” he said. “This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”
Right now, there’s a big scarcity of quality, affordable homes. With demand among home buyers beginning to pick up, and not enough existing homes on the market, orders for new construction are seeing a rebound.
To take advantage of the flood of new home orders, I really like Lennar Corp. (LEN). This homebuilding company was soaring before the coronavirus market shock, and has rallied well since the March lows.
And I’ve got a great options trade to profit from its continued success…
I’d recommend buying-to-open the November 20, 2020 $75 Calls. Make sure you don’t pay any more than $3.00 per contract. Sell the first half of your contracts at $4.50 and the remainder at $6.00. Set your stop loss at $1.50.
Before we wrap up today, I want to make sure you know there are plenty more trade opportunities where that came from.
In fact, just last week, I handed my readers a chance to score 209% and 50% all in under two hours.
It’s all part of my extra income strategy… and today, I’m sharing all the details – including how you can access my latest three picks starting today.